On the back of its annual analysis, Banka Slovenije has decided to make no change to the cap on charges that banks may make to consumers for providing a basic payment account. The cap on the monthly charge thus remains at EUR 4.90, or EUR 1.47 for those eligible for cash social assistance and the social security supplement. Here it should be highlighted that the most recent change to legislation in this area requires banks and savings banks to communicate more actively with regard to the right to a basic payment account, and to report their reasons for refusing any applications from consumers to open a basic payment account.
While the level of the charges for managing a personal (current) account is a matter for the individual bank, a cap on the charge for a basic payment account is set by Banka Slovenije. In so doing we take account of inflation and the average cost of a basket of payment services, and also the purpose of the basic payment account, which in addition to ensuring financial inclusion also aims to protect vulnerable population groups. Taking all these circumstances into account, we decided to leave the cap on monthly charges unchanged at EUR 4.90, or EUR 1.47 for those eligible for cash social assistance and the social security supplement.
Under the Payment Services, Electronic Money Issuance Services and Payment Systems Act (ZPlaSSIED), access to a basic payment account must be granted by all banks and savings banks in Slovenia that offer payment accounts to consumers. They are intended for all consumers legally resident in the EU who do not hold a payment account, and their basic purpose is to ensure financial inclusion. Opening an account of this type needs to be specifically requested by consumers, as an application to open a personal (current) account is not the same as application to open a basic payment account.
Here it should be noted that the latest version of the ZPlaSSIED sets out in greater detail when banks and savings banks may refuse to open an account of this type, and stipulates that consumers need to be informed of the refusal in writing. Information about the special features of the basic payment account and their conditions of use also needs to be made available to consumers.
More information about the right to a basic payment account can be found here.